India benchmark for creating successful global products: OnePlus CEO

New Delhi, (IANS) India has become the benchmark for creating successful global products for Chinese smartphone maker OnePlus, the company’s Founder and CEO Pete Lau has said.
“I am humbled to hear that OnePlus has emerged as the best-selling premium smartphone in India in just three years in the market. Three years later, India is our benchmark for creating successful global products,” Lau wrote on a company forum late on Tuesday.
The Shenzhen-based company OnePlus emerged as the leader with 40 per cent market share in the premium segment in India in the second quarter of 2018, said a report from Hong Kong-based Counterpoint Research on Tuesday.
“This young market is now set to become our second home ground, a centre for product innovation. Our new R&D center in India is just the beginning,” said Lau.
Last year, for the first time, the company hit the $1 billion revenue mark and this year, with the OnePlus 6, it managed to sell one million units in 22 days.
“India as a market has emerged as a front-runner in what has been an incredible journey, making for almost one-third of the company’s revenue in 2017,” Lau noted.
According to Counterpoint Research, the premium smartphone segment (Rs 30,000 and above) grew 19 per cent annually and 10 per cent sequentially during Q2 2018.
In terms of best-selling models, OnePlus 6 was the best in the premium segment followed by Samsung S9 Plus and OnePlus 5T.